York businesses benefit from £700,000 rate relief

Over 1,000 small businesses and charities in York will benefit from £700,000 in business rate relief over the next few months.

No business or charity with a rateable value below £200,000 will have to pay an increase in their business rates in 2017/18.

The decision follows a recent business rates revaluation exercise carried out by Central Government, which saw many businesses facing rates rising 12.5% or more. The decision will mean that £700,000 in government money will be automatically redistributed to businesses across the city, without the need for an application process.

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